ARK Investment Management LLC Sells 1,675,153 Shares of Cerus Co. (NASDAQ:CERS)

ARK Investment Management LLC lessened its position in shares of Cerus Co. (NASDAQ:CERS - Free Report) by 8.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,225,031 shares of the biotechnology company's stock after selling 1,675,153 shares during the period. ARK Investment Management LLC owned approximately 9.84% of Cerus worth $31,712,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Secure Asset Management LLC purchased a new stake in shares of Cerus in the 2nd quarter valued at $27,000. Russell Investments Group Ltd. increased its stake in shares of Cerus by 451.1% in the 1st quarter. Russell Investments Group Ltd. now owns 14,879 shares of the biotechnology company's stock worth $28,000 after acquiring an additional 12,179 shares in the last quarter. Creative Planning grew its position in Cerus by 51.3% during the 3rd quarter. Creative Planning now owns 24,809 shares of the biotechnology company's stock valued at $43,000 after purchasing an additional 8,411 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Cerus during the 2nd quarter valued at about $45,000. Finally, Algert Global LLC purchased a new stake in shares of Cerus during the 2nd quarter valued at about $97,000. Hedge funds and other institutional investors own 78.37% of the company's stock.

Analyst Ratings Changes

Separately, Stifel Nicolaus dropped their price target on shares of Cerus from $6.00 to $3.00 and set a "buy" rating on the stock in a report on Thursday, October 17th.

Cerus Price Performance

NASDAQ:CERS traded up $0.02 during trading hours on Friday, hitting $1.78. 1,585,173 shares of the stock traded hands, compared to its average volume of 1,291,874. The company has a quick ratio of 1.92, a current ratio of 2.59 and a debt-to-equity ratio of 1.19. Cerus Co. has a 1 year low of $1.38 and a 1 year high of $2.59. The company has a market cap of $330.57 million, a price-to-earnings ratio of -16.18 and a beta of 1.20. The stock has a 50 day moving average price of $1.82 and a 200 day moving average price of $1.91.

Insider Buying and Selling at Cerus

In other news, CFO Kevin Dennis Green sold 28,385 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $2.18, for a total value of $61,879.30. Following the transaction, the chief financial officer now owns 590,365 shares of the company's stock, valued at approximately $1,286,995.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.40% of the company's stock.

Cerus Company Profile

Cerus Corporation operates as a biomedical products company. The company focuses on developing and commercializing the INTERCEPT Blood System to enhance blood safety. Its INTERCEPT Blood System, a proprietary technology for controlling biological replication that is designed to reduce blood-borne pathogens in donated blood components intended for transfusion.